GBP/USD Analysis

Been a bit difficult to trade the major pairs recently with a lot of sideways action going on.

GBP USD seems to be ranging at the moment but ive spotted a potential pinbar setup on the daily timeframe

The pinbar comes off 16224 support which has held previously during April and June. trend is clear up, MA's are up. We had had a 50% retarce of the 18th July low and 38.2 retrace of the 12th July low. Trade to go long as per below:

STOP: 16217
ENTRY: 16275 (50% retrace of candle)
LIMIT: 16420

RISK/REWARD: 2.5/1